Gang Control Threatens Venezuela Mineral Investment After April Opening
Updated
Updated · The Japan Times · Jun 5
Gang Control Threatens Venezuela Mineral Investment After April Opening
3 articles · Updated · The Japan Times · Jun 5
Summary
April’s opening of Venezuela’s mineral sector to private capital is running into a major obstacle: gangs control many mines investors would need to access.
Those security risks cloud plans to develop reserves of gold, diamonds, bauxite and coltan — a mineral Western powers classify as critical for technology and defense.
The challenge comes as Venezuela, reshaped after Nicolas Maduro’s January overthrow, tries to broaden foreign investment beyond its oil industry.
Alongside the world’s largest proven oil reserves, Venezuela’s wider mineral wealth could be lucrative, but criminal control now threatens whether that investment push can take hold.